W. Michael Dennin
Senior Vice President, Financial Advisor, Senior Portfolio Manager
Phone:
(410) 736-5382(410) 736-5382
The Harbor Park Wealth Management Group at Morgan Stanley
W. Michael DenninBobby Wehman, CFP®, ChFC®, CEPA®Brian Dunne, CFP®Jason S. Sarratea, CFP®, CEPA®Nancy Dennin, CFA®
Baltimore:
(410) 837-8800(410) 837-8800
Hunt Valley:
(410) 229-8200(410) 229-8200
Toll-Free:
(800) 837-5833(800) 837-5833
Our Mission Statement
Seeking to help preserve and grow your family’s wealth with tailored strategies, dedicated guidance and a legacy focused approach
Our Story and Services
Drawing from the extensive experience of our Financial Advisors, our team will work intimately with you and your family to develop and implement a tailored wealth management plan that seeks to grow, preserve, and distribute your wealth in a tax advantageous manner. With over 200 years of combined experience* and over $1 billion in Assets Under Management (as of 12/31/24), The Harbor Park Wealth Management Group focuses on guiding families through the complexities of managing generational wealth. We leverage our knowledge and experience with the vast resources of Morgan Stanley, including state of the art technology, to deliver sophisticated wealth management strategies for our clients. Our Financial Advisors’ commitment to excellence has been recognized with numerous awards and memberships in Morgan Stanley clubs. Each member of the Harbor Park Wealth Management Group has expanded their level of knowledge through professional designations and additional licensing to help better serve our clients.
*For more information, please refer to our individual bios.
*For more information, please refer to our individual bios.
Services Include
- Wealth ManagementFootnote1
- Financial PlanningFootnote2
- Retirement PlanningFootnote3
- Planning for Education FundingFootnote4
- Estate Planning StrategiesFootnote5
- Business PlanningFootnote6
- Professional Portfolio ManagementFootnote7
- 401(k) Rollovers
- AnnuitiesFootnote8
- 529 PlansFootnote9
- Long Term Care InsuranceFootnote10
- Life InsuranceFootnote11
- Cash ManagementFootnote12
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
The Expanding Role of the Family Wealth Advisor
Family Office Resources (FOR) provides specialized technical expertise to ultra-high net worth Financial Advisors and clients across a broad range of family wealth management issues. Our suite of resources are meticulously crafted to address the unique wealth management needs of clients in order to help curate financial objectives and resources for short term and long term legacy goals.
Family Office Resources
We provide comprehensive guidance that is curated to assist ultra-high net worth clients regarding subjects related to financial education, bridging the gap for future legacy, philanthropic efforts, portfolio construction, tax management, etc.
Learn More About the Family Resources Office
Family Governance and Education
Too often, members of rising generations spend decades in silence. Having a mechanism in place such as a family mission statement, a family constitution or an investment policy statement can offer critical parameters and guidelines to make decisions as a collective. We work with you to find your way to becoming your own generation, with your own voice.
Learn About Family Governance and Wealth Education
Philanthropic Advisory
Believing that philanthropy must be more than checkbook writing, involved and engaged donors want to feel a connection and offer advice and input above and beyond money. Perhaps you want to use philanthropy to instill values in your children, or you want to apply your business acumen to philanthropy. Maybe it is the grassroots-type of organizations that inspire you. Holding philanthropic conversations with our team and your family to discuss values, motivations, visions and to develop a mission statement is an effective step to achieving long term philanthropic engagement. Deciding on what level of visibility you want, what type of program to support and how long you envision your involvement to last, are your matters that matter to us.
Charitable Giving At A Glance
Trust and Estate Planning and Business Succession
The key to determining which trust, tax and estate strategies to execute is to understand the interplay of personal and exogenous factors. Liquidity events such as an initial public offering or a merger or acquisition may provide income and estate planning opportunities. Liquidity events also magnify the need to put in place or update certain essential estate planning documents
EPI Know Your Gaps
Art Advisory
Whether you have inherited a valuable collection or built one of your own, the stewardship of fine art and collectibles presents an extensive range of formidable challenges. These unregulated markets can be confusing, fragmented and inefficient. With experienced art advisors at your side, you have the guidance you need to avoid pitfalls and the expertise to manage your collection as the significant asset it is
Learn More About MSWM Art Advisory
Lifestyle Services
The enjoyment of wealth means the most powerful benefits of a family office is the potential to help family members simplify their personal lives. We provide bespoke solutions and access to knowledgeable, highly personal specialists to help meet
your exceptional needs, from the everyday to the extraordinary, such as: travel and concierge services, health and security advisory, tangible asset management, personal enrichment, and financial administration.
Signature Access Elevate and Enrichyour exceptional needs, from the everyday to the extraordinary, such as: travel and concierge services, health and security advisory, tangible asset management, personal enrichment, and financial administration.
At Morgan Stanley, we lead with exceptional ideas. Across all our businesses, we offer keen insight on today's most critical issues.
Podcasts
Thoughts On the Markets
Each week, our thought leadership offers their perspectives on the forces shaping the markets, economics, global trends and more.
Click to here to listenEach week, our thought leadership offers their perspectives on the forces shaping the markets, economics, global trends and more.
Monthly Reports
On the Markets
Monthly collection of the most timely research and strategy from Morgan Stanley & Co., Morgan Stanley Wealth Management and external partners.
Click here for the latest reportMonthly collection of the most timely research and strategy from Morgan Stanley & Co., Morgan Stanley Wealth Management and external partners.
Entity-Redemption Buy-Sell Planning
There have been changes proposed by SCOTUS on buy-sell agreements, which may potentially trigger immediate estate tax exposure for business owners. Our team is ready to help educate and collaborate with your company’s advisory team to ensure your succession plan is properly executed.
Learn More About the Forthcoming changesDigital Tools
Our goal is simple: “To be the firm where the most talented advisors in the industry leverage cutting-edge technology and deliver customized wealth management solutions to their clients and their families to enable them to achieve their life goals.” Our comprehensive suite of digital tools are designed to help enhance every aspect of your financial life. Below are a few of the technologies we have to offer our clients. We have also included resources meant to transform complex financial analysis and research into concise and easily digestible content.
Morgan Stanley Online
Morgan Stanley Online digital capabilities and the Morgan Stanley Mobile App provide clients with access to their account information, enriched reporting tools, several cash management solutions and robust market research. The Morgan Stanley Mobile App provides clients with access to their accounts in just a few taps.
Learn More About Morgan Stanley Online
Total Wealth View
The ability to view all of your assets together provides the opportunity to advise on your Morgan Stanley accounts with your entire financial picture in mind. This new tool allows you to link information from your accounts at other financial institutions directly to your Morgan Stanley Online or Morgan Stanley Mobile App profile
Digital Vault
The ability to view all of your assets together provides the opportunity to advise on your Morgan Stanley accounts with your entire financial picture in mind. This new tool allows you to link information from your accounts at other financial institutions directly to your Morgan Stanley Online or Morgan Stanley Mobile App profile.
Learn More About Digital Vault
eDelivery
eDelivery provides you with the ability to view statements and other Firm documents electronically in lieu of paper. Clients who are registered in Morgan Stanley Online may enroll in eDelivery. Currently, documents available through eDelivery include statements, trade confirmations and prospectuses, general correspondence, selected Internal Revenue Service (IRS) approved tax documents, syndicate offerings, shareholder communications, and portfolio reports.
Learn More About eDelivery
eAuthorization
eAuthorizations empowers you to swiftly grant electronic authorization for both domestic and international transactions, whether one-time or recurring, via Morgan Stanley Online and through the Mobile App. This feature utilizes a robust multi-factor authentication system to verify your identity, effectively enhancing security and reducing associated risks.
Learn More About eAuthorization
eSign
eSign simplifies electronic document signing. Upon receiving an email from "Morgan Stanley via DocuSign," you'll be guided to verify your identity and sign the document securely. Once signed, the document is sealed against any tampering or edits.
Learn More About eSignA Financial Plan Made For You
Our wealth management process begins with you, your investment objectives and your financial goals. Holistic in its approach, it may encompass all the elements of your financial life - your investments and your cash management needs - making sure they align with your goals and wealth management plan.
At Morgan Stanley, we understand that the goals you set today will evolve over time. Your plan will evolve with them - and with the changing circumstances of your life.
Leveraging a sophisticated suite of analytic tools, as well as the extensive resources of Morgan Stanley, we can help you take charge of your financial future an achieve your goals. Below, we have provided some links that will introduce you to a few of the tools that we use, please click to learn more about them. We hope that you will return often to learn more about topics impacting your wealth
At Morgan Stanley, we understand that the goals you set today will evolve over time. Your plan will evolve with them - and with the changing circumstances of your life.
Leveraging a sophisticated suite of analytic tools, as well as the extensive resources of Morgan Stanley, we can help you take charge of your financial future an achieve your goals. Below, we have provided some links that will introduce you to a few of the tools that we use, please click to learn more about them. We hope that you will return often to learn more about topics impacting your wealth
2026 Tax Tables
This helpful resource outlines the 2026 tax rate schedule, education and health savings account limits, retirement contribution and deduction limits, among other information. With tax season seemingly always right around the corner, it's best to be as informed as possible.
Access the 2026 federal tax tables
Goals Planning System
Goals Planning System (GPS) is Morgan Stanley’s own integrated planning tool. Built on the Firm’s intellectual capital and capabilities, GPS is an intuitive and efficient platform used to quickly assess whether a client is “On Track” to achieving their financial goals.
Start Planning Now
Strategy - Intelligent Withdrawals
Building wealth is a means to an end. Taxes can eat up a significant portion of your assets upon withdrawal. This is why it's vital to look at your entire portfolio and coordinate liquidation to help reduce the impact of taxes and potentially improve investment results.
The decisions your make today can help you save for years to come. Use the resources found in the link below to help get started.
View Tax-Aware Strategies HereThe decisions your make today can help you save for years to come. Use the resources found in the link below to help get started.
Aladdin - Intelligent Risk Management
There’s a chance your portfolio may be at risk, but how you manage that risk is what matters.
Portfolio Risk Platform – Powered by Aladdin is a risk management platform that provides comprehensive risk estimation and reporting across a broad range of asset classes and security types. This platform provides both an overview and a detailed view to better enable risk to be effectively monitored and managed.
Learn More HerePortfolio Risk Platform – Powered by Aladdin is a risk management platform that provides comprehensive risk estimation and reporting across a broad range of asset classes and security types. This platform provides both an overview and a detailed view to better enable risk to be effectively monitored and managed.
Spending and Budgeting Tool
One way to manage savings is by using Morgan Stanley's Spending and Budgeting tool. These tools help advisors monitor client cash flows across both internal and external accounts. It also tracks spending patterns and produces an income and expense analysis to help clients achieve their goals by adjusting their spending behavior when necessary.
Start using the tool today
Retirement
Leading up to and through retirement, The Harbor Park Group helps you identify the most appropriate ways to obtain the income you need and help ensure that you are on track to achieve for financial goals
Learn More about Retirement Income StrategyAWARD-WINNING WEALTH MANAGEMENT. FOCUSED ON YOU.
With the guidance of a Morgan Stanley Financial Advisor and the strength of a five-time award-winning wealth management platform<sup> <a href="#wm-disclosure-1" class="Link--underline"> <span class="sr-only">Footnote</span> 1 </a> </sup>, you can build, preserve, and manage your wealth with precision and purpose. For every stage of your financial journey.
Tax-Smart Solutions
Leading tax optimization capabilities\<sup\> \<a href="#wm\-disclosure\-2" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 2 \</a\> \</sup\> designed to deliver year\-round tax management with an eye toward reducing taxes and boosting after\-tax returns.
Seamless Cash Management Integration
A comprehensive, coordinated strategy with access to competitive yields, flexible financing options, and exclusive cash management resources.
Premier Risk Management and Cyber Defense
Industry\-acclaimed risk management tools\<sup\> \<a href="#wm\-disclosure\-3" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 3 \</a\> \</sup\> to help drive smarter portfolio decisions. In\-house team of cybersecurity experts dedicated to help protect you from cyber threats.
Personalized Legacy Planning
Guidance from experienced professionals across estate, trust, philanthropy, and financial planning to help preserve and grow your legacy.
An Industry-Leading Platform
Expert insights from 500+ equity analysts to help unlock your portfolio's potential and investment guidance.
Liquidity When You Need It
Industry\-leading securities\-based lending solutions to help access liquidity without selling assets or disrupting your investment strategy.\<sup\> \<a href="#wm\-disclosure\-4" class="Link\-\-underline"\> \<span class="sr\-only"\>Footnote\</span\> 4 \</a\> \</sup\>
Robust Concentrated Stock Solutions
Powerful tools and strategies to help manage concentrated stock positions and look to optimize portfolio outcomes.
Alternatives & Private Markets Access
A comprehensive alternative investments platform offering tailored solutions, early access to select offerings, and competitive pricing structures. Exclusive private market and pre\-IPO opportunities that were previously reserved for institutions.
Location
1201 Wills Street
Ste 700
Baltimore, MD 21231
US
Direct:
(410) 837-8800(410) 837-8800
Toll-Free:
(800) 837-5833(800) 837-5833
303 International Circle
Suite 500
Hunt Valley, MD 21030
US
Direct:
(410) 229-8200(410) 229-8200
Meet The Harbor Park Wealth Management Group
Bobby Wehman, CFP®, ChFC®, CEPA®
Senior Vice President, Wealth Management, Financial Advisor, Family Wealth Director, Senior Portfolio Management Director, Alternative Investments Director
Phone:
(410) 736-5386(410) 736-5386
Brian Dunne, CFP®
Senior Vice President, Wealth Management, Financial Advisor, CERTIFIED FINANCIAL PLANNER®, Portfolio Management Director
Phone:
(410) 736-5354(410) 736-5354
Jason S. Sarratea, CFP®, CEPA®
Senior Vice President, Wealth Management, Financial Advisor, CERTIFIED FINANCIAL PLANNER®, Senior Portfolio Manager
Phone:
(410) 736-5337(410) 736-5337
Nancy Dennin, CFA®
Consulting Group Analyst
Phone:
(410) 837-8800(410) 837-8800
Jennifer Klein
Senior Registered Client Service Associate, Portfolio Associate
Phone:
(410) 736-5433(410) 736-5433
Daria Bunch-Greensfelder
Senior Registered Client Service Associate, Portfolio Associate
Phone:
(410) 736-5385(410) 736-5385
Kira Quigley
Client Service Associate
Phone:
(410) 736-5353(410) 736-5353
About W. Michael Dennin
Mike Dennin is a Financial Advisor, Senior Vice President, Senior Portfolio Manager, and the founder of the Dennin Group. He has 40 years of experience in finance beginning with Legg Mason and two mergers later what is now Morgan Stanley.
After graduating from Colgate University in 1977 with BA in History, Mike began his professional career in New York City in the textile industry where he became aware of the importance of branding. Mike subsequently worked in the international commerce industry in the World Trade Center in NYC. It was a corporate transfer that brought him to Baltimore from NYC. He developed an interest in finance, and in combination with his entrepreneurial spirit, he decided to transition to a career as a Financial Advisor at Legg Mason’s Baltimore headquarters in 1983.
Mike had a rewarding 22-year tenure at Legg Mason. Not only did he build a successful practice, but he met his wife, Nancy, who was a fund manager.
Mike has had a track record of success at both Legg Mason and Morgan Stanley. He has been named to the Director's, Chairman’s, President's Council or Century Member in each of the previous 30 years (1992-2022).
Mike is a basketball enthusiast and played at Colgate. He has coached players of all ages and has been active in elite AAU programs. In addition, Mike has helped oversee local basketball programs and upgrade community basketball facilities.
Mike has served as a President of Colgate University Mid-Atlantic Alumni Association and also served as a member of Colgate University Alumni Board of Directors.
After graduating from Colgate University in 1977 with BA in History, Mike began his professional career in New York City in the textile industry where he became aware of the importance of branding. Mike subsequently worked in the international commerce industry in the World Trade Center in NYC. It was a corporate transfer that brought him to Baltimore from NYC. He developed an interest in finance, and in combination with his entrepreneurial spirit, he decided to transition to a career as a Financial Advisor at Legg Mason’s Baltimore headquarters in 1983.
Mike had a rewarding 22-year tenure at Legg Mason. Not only did he build a successful practice, but he met his wife, Nancy, who was a fund manager.
Mike has had a track record of success at both Legg Mason and Morgan Stanley. He has been named to the Director's, Chairman’s, President's Council or Century Member in each of the previous 30 years (1992-2022).
Mike is a basketball enthusiast and played at Colgate. He has coached players of all ages and has been active in elite AAU programs. In addition, Mike has helped oversee local basketball programs and upgrade community basketball facilities.
Mike has served as a President of Colgate University Mid-Atlantic Alumni Association and also served as a member of Colgate University Alumni Board of Directors.
Securities Agent: TN, MD, VT, VA, NC, HI, AZ, AR, ND, OR, NY, IN, WV, SC, NV, UT, NH, DE, CT, CA, WY, WA, OH, MO, MN, GA, CO, AL, RI, MI, ME, MA, DC, NJ, KY, ID, WI, PA, IL, FL, TX; General Securities Representative; Investment Advisor Representative
NMLS#: 1321593
NMLS#: 1321593
About Bobby Wehman
Bobby, a native of Stony Brook, New York graduated from the United States Naval Academy in 1987. He was a four year letterman on the Naval Academy varsity lacrosse team and team captain his senior year. Bobby served seven years of active duty in the U.S. Navy which included a deployment with NATO forces in the North Atlantic and two deployments to the Persian Gulf in support of Operation Desert Storm. While in the Navy he had a bad experience working with an investment advisory firm which ultimately led to his passion for investing and desire to help others achieve their financial goals.
Bobby joined Legg Mason as a Financial Advisor in 1994 after receiving an Honorable Discharge from the U.S. Navy. He currently holds the CERTIFIED FINANCIAL PLANNER™, Chartered Financial Consultant® and Certified Exit Planning Advisor professional designations which serve as a testament to his proficiency. The CFP® designation is widely recognized as the highest level of professional competency in the financial planning industry. He was also named to the "Forbes Best in State Wealth Advisor" list for multiple years. Bobby is committed to providing the highest quality wealth management advice and remains dedicated to helping his clients grow and protect their wealth so that they can achieve financial independence.
When not at work, Bobby enjoys playing golf, trying to surf and spending quality time with his wife and three children.
Bobby joined Legg Mason as a Financial Advisor in 1994 after receiving an Honorable Discharge from the U.S. Navy. He currently holds the CERTIFIED FINANCIAL PLANNER™, Chartered Financial Consultant® and Certified Exit Planning Advisor professional designations which serve as a testament to his proficiency. The CFP® designation is widely recognized as the highest level of professional competency in the financial planning industry. He was also named to the "Forbes Best in State Wealth Advisor" list for multiple years. Bobby is committed to providing the highest quality wealth management advice and remains dedicated to helping his clients grow and protect their wealth so that they can achieve financial independence.
When not at work, Bobby enjoys playing golf, trying to surf and spending quality time with his wife and three children.
Securities Agent: MI, AR, UT, NV, NJ, NH, ME, DE, AZ, AL, ND, WV, TX, MD, FL, DC, WY, RI, CO, VT, SC, NY, KY, WI, IL, ID, WA, NC, TN, OR, MO, HI, GA, VA, PA, OH, MA, CT, MN, IN, CA; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1295656
NMLS#: 1295656
About Brian M. Dunne
As a CERTIFIED FINANCIAL PLANNER™ professional and Portfolio Management Director, Brian focuses on comprehensive financial planning with an emphasis on retirement for individuals and families. He works closely with Corporate Executives, Government Employees, and the Defense Industry. He also serves as a consultant for non-profits and corporate retirement plans.
Brian started in the wealth management industry in 2001 at T. Rowe Price and became a Financial Advisor with Legg Mason in 2004. He graduated from Radford University with a Bachelor of Science in Finance and was a member of their Division 1 lacrosse team.
When not at work Brian enjoys giving back to his community. He was appointed by both Governors O’Malley and Hogan to serve as a Commissioner and Vice-Chair of the Governor's Commission on Service and Volunteerism from 2013 -2019. He was appointed by Governor O’Malley to serve as a Consumer Board Member on the Maryland State Licensing Board for Professional Land Surveyors from 2011-2015. In 2020, he was appointed by Governor Hogan and currently serves as a Consumer Board Member on the Maryland State Board of Public Accountancy, DLLR. Brian resides in Lutherville with his wife and three children.
Brian started in the wealth management industry in 2001 at T. Rowe Price and became a Financial Advisor with Legg Mason in 2004. He graduated from Radford University with a Bachelor of Science in Finance and was a member of their Division 1 lacrosse team.
When not at work Brian enjoys giving back to his community. He was appointed by both Governors O’Malley and Hogan to serve as a Commissioner and Vice-Chair of the Governor's Commission on Service and Volunteerism from 2013 -2019. He was appointed by Governor O’Malley to serve as a Consumer Board Member on the Maryland State Licensing Board for Professional Land Surveyors from 2011-2015. In 2020, he was appointed by Governor Hogan and currently serves as a Consumer Board Member on the Maryland State Board of Public Accountancy, DLLR. Brian resides in Lutherville with his wife and three children.
Securities Agent: WI, CA, WV, OH, NV, NH, ME, MD, MA, HI, UT, MN, MI, AZ, AR, FL, DE, CT, TX, RI, NJ, IL, PA, NY, VA, IN, GA, WY, VT, OR, KY, ND, NC, MO, AL, WA, TN, SC, ID, DC, CO; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1648251
NMLS#: 1648251
About Jason S. Sarratea
Jason Sarratea is a Financial Advisor, Senior Vice President. Jason earned his B.A. in Economics from the University of Maryland Baltimore County (UMBC) in 1996. Following a successful internship with Legg Mason his senior year, he was hired, completed an 18-month financial advisor training program in 9 months, became a member of the firm’s pace setters club and began a fulfilling career in the financial services industry. Having helped his parents navigate the challenges of starting a new business, Jason developed a passion for helping independent business owners, corporate executives and high net worth individuals plan for addressing the many challenges that they will face through every stage of their lives.
Over his career, Jason has helped clients through many major market events including the tech bubble collapse of 2000, the Sept 11th attacks of 2001, the credit crisis of 2008 and the 2020 worldwide recession caused by the COVID-19 pandemic. During this time, he furthered his industry knowledge by acquiring the Certified Financial Planner® designation. With its own Professional Standards and Code of Ethics & Professional Responsibility, the Certified Financial Planner® designation is recognized as the highest standard in personal financial planning. He also acquired the Certified Exit Planning Advisor® designation as a sign of his commitment to helping business owners strategically prepare for the future of their companies – whether that’s through succession, sale or continued growth.
Jason is fluent in Spanish and his family is from Costa Rica. He spent several years living there as a child and enjoys returning to visit family and explore the beaches, volcanoes, and rainforests throughout the country. Jason is active in his community volunteering for over a decade as a girl's lacrosse coach and program director. At home, he and his wife stay busy raising their three teenaged daughters.
Over his career, Jason has helped clients through many major market events including the tech bubble collapse of 2000, the Sept 11th attacks of 2001, the credit crisis of 2008 and the 2020 worldwide recession caused by the COVID-19 pandemic. During this time, he furthered his industry knowledge by acquiring the Certified Financial Planner® designation. With its own Professional Standards and Code of Ethics & Professional Responsibility, the Certified Financial Planner® designation is recognized as the highest standard in personal financial planning. He also acquired the Certified Exit Planning Advisor® designation as a sign of his commitment to helping business owners strategically prepare for the future of their companies – whether that’s through succession, sale or continued growth.
Jason is fluent in Spanish and his family is from Costa Rica. He spent several years living there as a child and enjoys returning to visit family and explore the beaches, volcanoes, and rainforests throughout the country. Jason is active in his community volunteering for over a decade as a girl's lacrosse coach and program director. At home, he and his wife stay busy raising their three teenaged daughters.
Securities Agent: DE, GA, MN, HI, NY, NJ, NC, CA, WA, ME, AZ, RI, MO, IL, ID, FL, UT, NH, MD, MA, DC, AR, AL, TX, TN, NV, IN, CT, WV, VA, SC, OH, MI, WI, VT, CO, OR, ND, WY, PA, KY; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1390907
NMLS#: 1390907
About Nancy Dennin
Nancy started working at Legg Mason (LM) in July 1982 as a secretary in the Accounting Department, shortly after graduating Cum Laude from Towson State University with a BS in Finance. Within six weeks she was promoted to a Staff Accountant and was involved in preparing the financial statements for Legg Mason’s IPO in 1983. In 1985 she transitioned to the Funds Management division of LM, being hired by Ernie Kiehne to be a Securities Analyst for the group of mutual funds that he and Bill Miller were managing. In the 1990s she became the co-manager, then the sole manager of the Total Return Trust, a growth and income fund, and in 2000 became the assistant manager of the Value Trust, LM’s flagship fund.
Nancy received her CFA in 1988 and her MBA from Loyola College at night, graduating as a member of the Beta Gamma Sigma honor society in 1989. She also received The Baltimore Association of Financial Planners Award upon her graduation from Towson State. She was the President of the Baltimore Security Analysts Society in 1996-1997. She currently volunteers as an InvestWrite Judge, grading student essays for the SIFMA Foundation and previously volunteered for the Maryland Special Olympics during and after college. In the early 2000s she served as a member of the Board of Directors for Chesapeake Academy, the elementary school her children attended.
Nancy and Mike were married in 1991 and had five sons within 3 ½ years – one born in 1994, one in 1996 and triplets in 1998! Nancy’s desire to spend the majority of her time raising her children led her to transition to Mike’s investment team, where she has worked part time since 2005.
Nancy received her CFA in 1988 and her MBA from Loyola College at night, graduating as a member of the Beta Gamma Sigma honor society in 1989. She also received The Baltimore Association of Financial Planners Award upon her graduation from Towson State. She was the President of the Baltimore Security Analysts Society in 1996-1997. She currently volunteers as an InvestWrite Judge, grading student essays for the SIFMA Foundation and previously volunteered for the Maryland Special Olympics during and after college. In the early 2000s she served as a member of the Board of Directors for Chesapeake Academy, the elementary school her children attended.
Nancy and Mike were married in 1991 and had five sons within 3 ½ years – one born in 1994, one in 1996 and triplets in 1998! Nancy’s desire to spend the majority of her time raising her children led her to transition to Mike’s investment team, where she has worked part time since 2005.
About Jennifer Klein
Jen joined Morgan Stanley in 1999. She is a Portfolio Associate and has her Series 7 and 66 licenses. Jen also serves as a Complex Coach for five regional Morgan Stanley branches assisting with both new hire training and current staff development. Jen lives in Perry Hall with her husband of 25 years and is actively pursuing her BS with a double minor in Management and Finance from Notre Dame of Maryland University.
About Daria Bunch-Greensfelder
Daria graduated from Towson University with a degree in Business Administration and a concentration in Finance. She began working in the financial services industry in 1996 prior to joining Morgan Stanley in 2006. She has her Series 7 license. Born and raised in Baltimore, MD, she lives along the shore of the Gunpowder River with her husband, daughter and dog, Ruby. Outside of the office, Daria is active on the Parent Teacher Association Board of her daughter’s school. She enjoys spending time with her family and friends, boating, going to the gym and reading a good book.
About Kira Quigley
Kira graduated from Loyola University Maryland with a Bachelor’s degree in International Business and Spanish. Originally from Bergen County, New Jersey, she brings energy, curiosity, and a client-focused mindset to her new role.
Outside of work, Kira enjoys instructing and taking cycle and yoga classes, hiking with her golden retriever, Jovie, horseback riding, and traveling whenever she can.
Outside of work, Kira enjoys instructing and taking cycle and yoga classes, hiking with her golden retriever, Jovie, horseback riding, and traveling whenever she can.
Contact W. Michael Dennin
Contact Bobby Wehman
Contact Brian Dunne
Contact Jason S. Sarratea
The Power of Partnerships
By partnering with experienced individuals across wealth disciplines, Morgan Stanley Financial Advisors can align specialized resources with your custom needs and deliver strategic guidance through the familiarity and trust of existing relationships
Sean W. Ruediger
Private Banker
John Davenport
Private Banker
About Sean W. Ruediger
Sean Ruediger is a Private Banker serving Morgan Stanley Wealth Management offices in Maryland and Delaware.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Sean began his career in financial services in 2012, and joined Morgan Stanley in 2016. Prior to joining the firm, Sean was a Senior Loan Processor at PHH Mortgage. He also served as PHH’s lead trainer on Morgan Stanley’s mortgage procedures and processes.
Sean lives in Maryland with his family. Outside of the office, Sean is a Lean Six Sigma certified yellow belt. He also enjoys writing music, graphic designing, and spending time with his family and friends.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
Sean began his career in financial services in 2012, and joined Morgan Stanley in 2016. Prior to joining the firm, Sean was a Senior Loan Processor at PHH Mortgage. He also served as PHH’s lead trainer on Morgan Stanley’s mortgage procedures and processes.
Sean lives in Maryland with his family. Outside of the office, Sean is a Lean Six Sigma certified yellow belt. He also enjoys writing music, graphic designing, and spending time with his family and friends.
NMLS#: 1192383
About John Davenport
John Davenport Jr is a Private Banker serving Morgan Stanley Wealth Management offices in the Greater Chesapeake Market.
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
John began his career in financial services in 2018, and joined Morgan Stanley in 2025 as a Private Banker. Prior to joining the firm, he was a Wealth Management Banker at Merrill Lynch
John is a graduate of the University of Maryland College Park, where he was a member of the Track & Field team and he received a Bachelor of Science in Economics. John is also a graduate of The University of Baltimore/Towson University, where
he received his Master’s in Business Administration. He lives in Rockville, Maryland with his family. Outside of the office, John enjoys watching the Ravens, working out/playing basketball, and spending time with his family. John is also a board member for Citikidz, a Christian sports camp in PA
Private Bankers partner with Financial Advisors to develop a specialized approach for managing clients’ cash flow, liquidity and financing needs, leveraging our comprehensive suite of cash management and lending solutions.
John began his career in financial services in 2018, and joined Morgan Stanley in 2025 as a Private Banker. Prior to joining the firm, he was a Wealth Management Banker at Merrill Lynch
John is a graduate of the University of Maryland College Park, where he was a member of the Track & Field team and he received a Bachelor of Science in Economics. John is also a graduate of The University of Baltimore/Towson University, where
he received his Master’s in Business Administration. He lives in Rockville, Maryland with his family. Outside of the office, John enjoys watching the Ravens, working out/playing basketball, and spending time with his family. John is also a board member for Citikidz, a Christian sports camp in PA
NMLS#: 1933384
Private Banking Group (PBG) Market Managers, Senior Private Bankers, Private Bankers, and Associate Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Banking products and services are offered by Morgan Stanley Private Bank, National Association, Member FDIC.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Wealth Management
From Our Team
3Q 2025 Market Mosaic | The Harbor Park Wealth Management Group
Wealth Management
Global Investment Office
Portfolio Insights
Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
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Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
529 Plans: A Powerful Tool to Save for Education
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Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
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Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Iran Conflict: Seven Takeaways for Investors
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Financial Wellness
Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
- Reduce employee stress,
- Improve retention and engagement, and
- Set themselves apart by offering comprehensive financial wellness benefits.
Ready to start a conversation? Contact The Harbor Park Wealth Management Group today.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
3When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
4When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
6Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
7Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
8Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
9Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan's investment options and the historical investment performance of these options, the Plan's flexibility and features, the reputation and expertise of the Plan's investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state's own Qualified Tuition Program. Investors should determine their home state's tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
10Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
11Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
12Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.
1Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
3When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
4When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account. Individuals should always check with their tax or legal advisor before engaging in any transaction involving 529 Plans, Education Savings Accounts and other tax-advantaged investments.
5Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
6Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
7Morgan Stanley’s investment advisory programs may require a minimum asset level and, depending on your specific investment objectives and financial position, may not be appropriate for you. Please see the Morgan Stanley Smith Barney LLC program disclosure brochure (the “Morgan Stanley ADV”) for more information in the investment advisory programs available. The Morgan Stanley ADV is available at www.morganstanley.com/ADV.
8Annuities are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
9Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan's investment options and the historical investment performance of these options, the Plan's flexibility and features, the reputation and expertise of the Plan's investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state's own Qualified Tuition Program. Investors should determine their home state's tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, risk factors, fees and expenses and possible tax consequences.
10Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
11Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.
12Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Check the background of our Firm and Investment Professionals on FINRA's BrokerCheck*.
The information, products and services described here are intended only for individuals residing in states where this Financial Advisor is properly registered as described in this site.
Morgan Stanley reserves the right, to the extent permitted under applicable law, to retain and monitor all electronic communications. Morgan Stanley will not accept purchase or sale orders via any Internet site, social media site and/or its messaging systems. Morgan Stanley does not endorse and is not responsible and assumes no liability for content, products or services posted by third-parties on any Internet site, social media site and/or its messaging systems. All electronic communications are subject to terms available at the following link:
https://www.morganstanley.com/disclaimers/mswm-email.html. Any profiles and associated content are for U.S. residents only.
The securities/instruments, services, investments and investment strategies discussed in this material may not be appropriate for all investors. The appropriateness of a particular investment, investment strategy or service will depend on an investor's individual circumstances and objectives. Morgan Stanley Smith Barney LLC recommends that investors independently evaluate particular investments, strategies and services, and encourages investors to seek the advice of a Financial Advisor or Private Wealth Advisor. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”) is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the website. Morgan Stanley is not responsible for the information contained on the third-party website or the use of or inability to use such site. Nor do we guarantee their accuracy or completeness.
The views, opinions or advice contained within third party websites or materials are solely those of the author, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors as the appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives.
*References to length of service at Morgan Stanley include years at Morgan Stanley and predecessor firms.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
The use of the CDFA designation does not permit the rendering of legal advice by Morgan Stanley or its Financial Advisors which may only be done by a licensed attorney. The CDFA designation is not intended to imply that either Morgan Stanley or its Financial Advisors are acting as experts in this field.
Awards Disclosures | Morgan Stanley
Please read the important disclosures below.
1) Morgan Stanley Wealth Management secured Money Management Institute/Barron’s Industry Awards for Wealth Manager Platform of the Year. The Wealth Manager Platform of the Year category recognizes a wealth manager platform that exemplifies innovation in delivering better outcomes for investors and Financial Advisors. This award has been secured in 2024, 2021, 2020, 2019 & 2018. The winners were selected by a specially appointed MMI Industry Awards Steering Council. The Steering Council consists of representatives from all segments of the MMI membership. After carefully reviewing the nominations submitted, the Steering Council determined a slate of finalists in each award category. The primary contacts at each of MMI’s 207 member firms were eligible to vote to determine the winners. Nominations were reviewed and evaluated to determine finalists June 2024 - July 2024. Finalists were voted on to determine a winner August 2024. MMI/Barron’s does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to MMI/Barron’s in exchange for its receipt of the award. Morgan Stanley is a member of MMI and pays a fee to MMI as part of its membership dues. Morgan Stanley’s receipt of this award is not indicative of any future performance. These awards were granted to Morgan Stanley based on the time period from October 2023 to June 2024. There were 6 firms considered for the Wealth Management Platform of the Year Award and 12 firms considered for the Distribution Excellence Award. The Money Management Institute (MMI) is the industry association representing financial services firms and Barron’s is a financial magazine; both groups are responsible for the award. Accolade qualifications for past years may vary; additional information available upon request.
2) Industry’s top tax-optimization technology refers to tax management capabilities developed by Eaton Vance and Parametric, affiliates of Morgan Stanley. Morgan Stanley is a leading provider of direct indexing strategies. According to Cerulli Associates’ Q1 2026 Managed Account Edition, Morgan Stanley ranked first among 15 firms in Direct Index SMA assets under management based on reported industry assets. The ranking reflects scale of assets and does not evaluate tax outcomes, performance, or quality of technology. Tax outcomes will vary and are not guaranteed.
3) The Celent Model Wealth Manager 2025 Awards for Data and Analytics and Essential and Emerging Technologies were granted to Morgan Stanley following an evaluation process conducted by Celent analysts. To be considered for this award, Morgan Stanley submitted Model Wealth Manager 2025 Nomination Award Worksheets to Celent on or about January 30, 2025. Celent judged each submission on three criteria: (1) Measurable business benefits of live initiatives; (2) degree of innovation relative to the industry; and (3) technology or implementation excellence. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent does not receive compensation from the participating firms in exchange for the award and Morgan Stanley did not pay a fee to Celent in exchange for the award. Morgan Stanley is not affiliated with Celent. Based on their submission on January 30, 2025 for Celent’s 2025 Model Awards program, Celent granted Morgan Stanley their awards in June, 2025 and publicly shared the news in June, 2025. Celent is a global financial services research and advisory firm and is responsible for determining the recipient of this award.
4) Q4 2025 Securities Based Lending McLagan Survey – 6 Firm Report. Based on both Non-Purpose Lending and total SBL balances. Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss.
Not all products, tools, platforms, and services referenced are available to all clients. Please speak with your Financial Advisor for eligibility criteria.
Investing in securities involves risk, including possible loss of principal. Diversification does not guarantee a profit or protect against loss in a declining financial market.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Alternative investments are often speculative and include a high degree of risk. Investors can lose all or a substantial amount of their investment. They may be highly illiquid, can engage in leverage, short-selling and other speculative practices that may increase volatility and the risk of loss, and may be subject to large investment minimums and initial lock-ups. They may involve complex tax structures, tax inefficient investing and delays in distributing important tax information. They may have higher fees and expenses that traditional investments, and such fees and expenses can lower the returns achieved by investors.
Cash management and lending products and services are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Borrowing against securities may not be appropriate for everyone. Clients must be aware that there are risks associated with a securities based loan, including possible maintenance calls on short notice, and that market conditions can magnify any potential for loss. For details please see the important disclosures below.
Important Risk Information for Securities Based Lending: Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason.
With the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.
To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.
Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
There is no guarantee that tax-loss harvesting will achieve any particular tax result. Clients may elect Tax Management Services for the account by notifying their Financial Advisor, and indicate what Maximum Tax or Realized Capital Gain Instruction is desired for the account, if any. The Tax Management Services Terms and Conditions attached to the Morgan Stanley Smith Barney LLC Select UMA ADV brochure as Exhibit A will govern Tax Management Services in the account. Review the Morgan Stanley Smith Barney LLC Select UMA ADV brochure carefully with your tax advisor.
Industry acclaimed risk platform refers to Morgan Stanley Smith Barney LLC’s (“Morgan Stanley”) Portfolio Risk Platform. The assumptions used in the Report incorporate portfolio risk and scenario analysis employed by BlackRock Solutions (“BRS”), a financial technology and risk analytics provider that is independent of Morgan Stanley. BRS’ role is limited to providing risk analytics to Morgan Stanley, and BRS is not acting as a broker-dealer or investment adviser nor does it provide investment advice with respect to the Report. Morgan Stanley has validated and adopted the analytical conclusions of these risk models. The analysis provided is illustrative only. Morgan Stanley cannot predict a portfolio’s risk of loss due to, among other things, changing market conditions or other unanticipated circumstances. The analysis is based purely on assumptions made using available data and any of its forecasts are subject to change.
The footnotes below apply to the industry-leading claims referenced above. More information is available upon request.
Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.
Investment, Insurance and annuity products offered through Morgan Stanley Smith Barney LLC are NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please visit us at www.morganstanley.com/wealth or consult with your Morgan Stanley Financial Advisor to read about those differences.
The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum and make a determination based on their own particular circumstances that the investment is consistent with their investment objectives and risk tolerance.
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CRC 4665150 (8/2025), 4763067 (9/2025), 5378280 (5/2026)
